Techmeme
May 5, 2022, 9:30 AM

Top News

Financial Times:
Filing: Elon Musk secures $7.14B for his Twitter bid from Larry Ellison, Binance, Sequoia, a16z, Saudi Prince Alwaleed, Fidelity, and others; Ellison gives $1B  —  Tesla chief raises $7bn from new investors for takeover of social media platform  —  Elon Musk has revealed that he has raised $7.14bn …
Edwin Chan / Bloomberg:
Filing: Elon Musk's new $7.14B in equity financing for Twitter, which includes investment from Qatar, reduces the margin loan from $12.5B to $6.25B  —  Elon Musk has secured about $7.1 billion of new financing commitments for his proposed $44 billion takeover of Twitter Inc., the company said in a filing Thursday.
Richard Lawler / The Verge:
Ian Sherr / CNET:
Apple, Google, and Microsoft announce plans to adopt features from the FIDO Alliance, which is working on passwordless tech for websites and apps  —  Ian Sherr  —  Ian Sherr (he/him/his) grew up in the San Francisco Bay Area, so he's always had a connection to the tech world.
Nicole Sganga / CBS News:
Cybereason: China-linked Winnti APT exfiltrated hundreds of GBs of IP in a cyber campaign targeting ~30 companies in North America, Europe, and Asia since 2019  —  A yearslong malicious cyber operation spearheaded by the notorious Chinese state actor, APT 41, has siphoned off an estimated trillions …
Casey Newton / Platformer:
At Wednesday's Senate hearing, CrowdTangle's Brandon Silverman and other researchers explained why the US needs laws requiring Big Tech companies to share data  —  Everyone wants answers about social networks.  These experts know where to look  —  On Wednesday, Congress was treated …
Jordan Novet / CNBC:
Meta plans to slow hiring amid record low revenue growth; source: Meta paused entry-level hiring and plans to stop or slow hiring for mid-level and senior roles  —  - Facebook's parent company sees challenges ahead because of Apple's privacy changes, the war in Ukraine and broad macroeconomic shifts.
Chris Welch / The Verge:
Sources: Sonos plans to launch a voice assistant for playing music in the US on June 1 that supports Apple Music, Amazon Music, Pandora, Deezer, and Sonos Radio  —  Sonos will roll out its most important service yet on June 1st  —  Sonos is preparing to introduce its own voice assistant service within …
Luke Taylor / Rest of World:
Survey of 1,800 households in El Salvador shows 61% have abandoned the Chivo bitcoin wallet after withdrawing a free $30 sign-up bonus  —  Those who stayed are not on the Chivo app for what was intended, using it to keep their dollars safe rather than for crypto.  —  • BOGOTÁ, COLOMBIA
Sergiu Gatlan / BleepingComputer:
IC3 says there were 241K+ reports of business email compromise scams globally from June 2016 to July 2019, totaling $43B+ in actual and attempted losses  —  The Federal Bureau of Investigation (FBI) said today that the amount of money lost to business email compromise (BEC) …
Janko Roettgers / Protocol:
Cameo lays off 87 staff; source says CTO Rob Post, marketing exec Emily Boschwitz, CPO Nundu Janakiram, and Chief People Officer Melanie Steinbach have gone  —  Cameo, the celebrity video greetings startup, laid off 87 of staffers Wednesday, a move that CEO Steven Galanis described as “right-sizing.”
Sarah Perez / TechCrunch:
Joe Warminsky / The Record:
The White House instructs federal agencies to increase preparations in the next six months for quantum computers capable of breaking public-key cryptography  —  A memorandum issued Wednesday by President Joe Biden orders federal agencies to ramp up preparations for a day when quantum computers …
Stephen Totilo / Axios:
NYC employees' pension funds sue Activision Blizzard, alleging CEO Bobby Kotick rushed the Microsoft deal to escape liability for misconduct at his company  —  Activision CEO Bobby Kotick rushed to secure a takeover bid from Microsoft in order to escape liability for misconduct at the company …
Greg Iacurci / CNBC:
Intuit agrees to pay $141M in restitution to nearly 4.4M US customers charged for using the TurboTax Free Edition, in a settlement with all 50 states and DC  —  - Intuit, which owns TurboTax, has agreed to pay $141 million in restitution to 4.4 million low-income customers who were charged …
Adi Robertson / The Verge:
Twitter's open source Bluesky unit releases early code for a decentralized social network protocol, dubbed Authenticated Data Experiment, for developers to test  —  It's called the Authenticated Data Experiment  —  Bluesky, Twitter's open-source offshoot, has released early code for a decentralized social network protocol.
Ingrid Lunden / TechCrunch:
Stripe launches Financial Connections to let its customers pull their users' banking data directly, debuting first in the US for $0.10 to $1.50 per API call  —  Stripe, the payments behemoth valued at $95 billion a year ago and now reportedly inching closer to an IPO, today announced …
Anna Gross / Financial Times:
Ukrainian officials say Russia has taken over internet infrastructure in the Donbas region, rerouting traffic to Russia-controlled operators  —  Rerouting traffic to Russia-controlled regions makes Ukrainians' data vulnerable to interception and censorship by the Kremlin
Benjamin Pimentel / Protocol:

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